Extreme Networks (NASDAQ:EXTR) Given “Buy” Rating at Needham & Company LLC

Extreme Networks (NASDAQ:EXTR)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $20.00 target price on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 26.82% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Extreme Networks from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley boosted their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Extreme Networks has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Extreme Networks Trading Down 3.0 %

Shares of NASDAQ:EXTR opened at $15.77 on Thursday. The stock has a market capitalization of $2.08 billion, a PE ratio of -16.26, a P/E/G ratio of 3.76 and a beta of 1.75. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $19.24. The firm has a fifty day moving average price of $17.19 and a 200 day moving average price of $15.59. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. Analysts expect that Extreme Networks will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,725 shares of company stock valued at $698,246 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in Extreme Networks during the second quarter worth about $1,745,000. The Manufacturers Life Insurance Company grew its stake in Extreme Networks by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after buying an additional 1,749 shares during the last quarter. Mackenzie Financial Corp grew its stake in Extreme Networks by 75.3% during the second quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company’s stock worth $362,000 after buying an additional 11,549 shares during the last quarter. Clearbridge Investments LLC grew its stake in Extreme Networks by 42.9% during the second quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock worth $11,507,000 after buying an additional 256,765 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after buying an additional 531,500 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.